Primoris Services (PRIM) Projected to Post Earnings on Monday

Primoris Services (NASDAQ:PRIM) will likely be issuing its quarterly earnings data after the market closes on Monday, May 5th. Analysts expect the company to announce earnings of $0.70 per share and revenue of $1.49 billion for the quarter.

Primoris Services Price Performance

Shares of NASDAQ:PRIM opened at $66.17 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 21.91 and a beta of 1.33. The company’s 50-day moving average is $61.14 and its 200 day moving average is $71.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services has a fifty-two week low of $45.92 and a fifty-two week high of $90.86.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 31st. Primoris Services’s payout ratio is 9.64%.

Insiders Place Their Bets

In other Primoris Services news, Director Stephen C. Cook sold 998 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $68.00, for a total value of $67,864.00. Following the completion of the transaction, the director now owns 7,377 shares of the company’s stock, valued at $501,636. The trade was a 11.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the sale, the chief executive officer now owns 46,796 shares in the company, valued at approximately $2,999,623.60. This trade represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock worth $4,310,043 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp reduced their price objective on Primoris Services from $90.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of Primoris Services in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Piper Sandler began coverage on shares of Primoris Services in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Primoris Services in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $84.75.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.